Go for a business that any idiot can run - because sooner or later, any idiot probably is going to run it.
There's no use diversifying into unknown companies just for the sake of diversity. A foolish diversity is the hobgoblin of small investors. That said, it isn't safe to own just one stock, because in spite of your best efforts, the one you choose might be the victim of unforeseen circumstances. In small portfolios, I'd be comfortable owning between three and ten stocks.
You should not buy a stock because it's cheap but because you know a lot about it.
Never invest in a company without understanding its finances. The biggest losses in stocks come from companies with poor balance sheets.
Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves.
The real key to making money in stocks is not to get scared out of them.
All the math you need in the stock market you get in the fourth grade.
Your ultimate success or failure will depend on your ability to ignore the worries of the world long enough to allow your investments to succeed.
Nobody can predict interest rates, the future direction of the economy or the stock market. Dismiss all such forecasts and concentrate on what's actually happening to the companies in which you've invested
The list of qualities (an investor should have) include patience, self-reliance, common sense, a tolerance for pain, open-mindedness, detachment, persistence, humility, flexibility, a willingness to do independent research, an equal willingness to admit mistakes, and the ability to ignore general panic.
In the long run, it's not just how much money you make that will determine your future prosperity. It's how much of that money you put to work by saving it and investing it.
Know what you own, and know why you own it.
Stocks are a safe bet, but only if you stay invested long enough to ride out the corrections.
If you can't find any companies that you think are attractive, put your money in the bank until you discover some.
Often, there is no correlation between the success of a company's operations and the success of its stock over a few months or even a few years. In the long term, there is a 100 percent correlation between the success of the company and the success of its stock. This disparity is the key to making money; it pays to be patient, and to own successful companies.
If you spend more than 13 minutes analyzing economic and market forecasts, you've wasted 10 minutes
Spend at least as much time researching a stock as you would choosing a refrigerator.
The simpler it is, the better I like it.
Everyone has the brain power to make money in stocks. Not everyone has the stomach.
The stock market really isn't a gamble, as long as you pick good companies that you think will do well, and not just because of the stock price.
Behind every stock is a company. Find out what it's doing.
Never invest in any idea you can't illustrate with a crayon
Investing in stocks is an art, not a science, and people who've been trained to rigidly quantify everything have a big disadvantage.
Time is on your side when you own shares of superior companies.
When management owns stock, then rewarding the shareholders becomes a first priority, whereas when management simply collects a paycheck, then increasing salaries becomes a first priority.
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